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Home My WebLink AboutR-82-1123J - 8 2 - 2 4 5 r r RC SOLD T I ON NO. A RESOLIJf [ON A1JT11ORI1ING TIDE PITY MANAGER TO NEGOTIATE AND EXECIJTE A PROFESSIONAL SERVICES AGREEMENT, IN SURSTANITALLY THE FORM ATTACHED HEli ET1), WITH I H E FIRM OF E. H. FRIEND AND C[1MPAN Y FOR EXPERT ACT IIARIAL ASSISTANCE IN PENSION MATTERS AT A COST NOT TO EXCFEI) $50,000 WITH FIJN1)S THFREFOR ALLOCATED FROM SPECIAL PROGRAMS AND ACCOUNTS, CONTINGENT FUND. WHEREAS, the City of tliarni is concerned about the Fiscal stahiIity of its municipal operations; and W11EREA5, recent state and federal laws have made pension fundinrl and adrninistrati()n more emnplex and demanding; and ,J1-1LRFA5, f:, 1{. Friend and Company is an expert in the area ;)f pension and is extremely knowledgeable about the City`za pension prm1ram; NOW, THEliEFORC, HE IT RLSOLVF_I) HY Tdl_ ['001-115SION OF 1HE C[TY OF tilAti19 Fl_ORIUA: SPCvt ion 1 . The City 1.1an;arler is here15y authorized to nt- gobat,e aIld i'xe('tlte a 1)r0fl'SSiorla1 serv1cPS agreement, 1n suhstanti81 lv 11)P farm �rtt -ached hert-to, tvitr) the firm of L. H. Friend and Compariy for expert act.uarial a�3sistance in pension mat'Ler'3 at a r r)t,t, not, to oxceed 3t51J,000, with funds therefor herehy illneated from Spacial Pro(IrdfliS and Accounts, Contingent Fund. PASSFD AND ADOPIE0 this 9 day of DECEMBER , 1982. 'RA FP G. 0NGIE, CITY CLE4 PRI-PARLD AND APPROVED BY: Rmit-RT F. C L A R K - 1)FPIJTY CITY AI 10RNEY APPIZIIVED AS tU FUI114 AN1) CURRE_CINESS: OSF R.-GAliCIA-PEDROSA t'If Y AIIORNF_Y MAURICE A. FERRE 11 A Y O R CITY COMMISSION MEETING OF DEC 9 1982 4. PROFESSIONAL SERVICES AGREEMENT This Agreement entered into as of the day of , 1982, by and between the City of Miami, a municipal corporation of Dade County, Florida, hereinafter referred to as "CITY" and Edward H. Friend & Co., 1800 K Street, N.W., Washington, D.C., hereinafter referred to as "CONSULTANT". W I T N E S S E T H: WHEREAS, THE CITY OF MIAMI, FLORIDA, requires professional services in the nature of actuarial consulting; and V1HEREAS, the CONSULTANT has expressed a desire to per- form the required actuarial services for the City; and WHEREAS, the City Commission authorized the City Manager to negotiate and execute a professional service agreement by Resolution No. . NOS-11 THEREFORE, THE CITY AND CONSULTANT agree as follows: 1. TERM: This Agreement shall commence October 1, 1982, for the purpose of providing actuarial service to the CITY for the fiscal year ending September 30, 1983 and shall terminate on September 30, 1983. 2. BASIC SERVICES: (a) The CONSULTANT shall provide the following professional services as part of this Agreement: (1) Assist the City Administration in the preparation of policies related to the City's pension plans. (2) Present and explain pension policies to the City Commission. (3) Prepare special actuarial reports for both City pension plans. (4) Analyze and explain to the City Administration and City Commission actuarial requirements as proposed by both pension plans. 82-1123 I i io (5) Prepare funding alternatives for the City's pension plans. (6) Assist the City Administration in complying with the requirements of Florida's Public Employees' Retirement Benefits Act. (7) Keep City Administration informed on Federal and State laws affecting pension plans. (8) Provide expert testimony in litigations related to pension matters, including but not limited to methodology and soundness of pension systems. (9) Other pension related activities and additional work as requested by the City Manager. 3. COMPENSATION (a) The CITY shall pay the CONSULTANT, as compensa- tion for the services required pursuant to Paragraph 2 hereof, a fee up to fifty thousand dollars ($50,000.00) to be calcu- lated and billed upon a time and expense basis based on the CONSULTANT'S standard hourly rate schedules and expense charges which, at this date, are approximately as follows: (1) Professional fees - hourly rates October 1, 1982 - September 30, 1983 Chief actuary $ 234.00 senior consultants/actuaries 125.00 - 166.00 consultants/actuaries 94.00 - 124.00 junior consultants/actuaries 62.00 - 93.00 actuarial associates/senior administrative staff 31.00 - 61.00 statistician/clerical 21.00 - 30.00 (2) Computer expense charges - 150% of costs is charged directly to the client account; of which the 50% margin covers unasssigned overhead costs associated with computer processing; efforts relating to generalized subroutine development and analysis, training, terminal maintenance, record keeping, auditing of invoice charges, management, etc. (3) Additional expense costs not included in professional fees (other than computer charges) - 100% of the cost for the items listed below are charged directly to the client account without additional margin. (a) copying/printing (b) postage z 82-1123 (c) telephone (d) delivery (e) travel f (b) Such fee shall be aid upon submission b the CON- SULTANT of monthly billings; such monthly billings shall be paid within fifteen (15) days of submission. The CITY shall have the right to review and audit the time records and related records of the CONSULTANT pertaining to any such billings. (c) Notwithstanding the above rates or the time and cost involved, the CONSULTANT shall be reimbursed for attending a meeting in Miami at a cost not to exceed Five hundred and twenty five ($525.00) dollars for any one meeting. All ex- penses relating to travel shall be approved in advance by the CITY. (d) The CONSULTANT and the CITY hereby agree that the. maximum amount payable under this contract shall not exceed fifty thousand dollars ($50,000) and that any party may immed- iately and at any time terminate this Agreement when the costs hereinabove reaches Fifty thousand dollars ($50,000). Men the aggregate accumulation of charges reaches Fifty thousand ($50,000) dollars, the CONSULTANT shall notify the CITY and the parties may mutually agree to amend this Agreement to ex- tend it beyond the sum of Fifty thousand ($50,000) dollars. 4. TERMINATION OF CONTRACT The CITY retains the right to terminate this Agreement at any time prior to the completion of the WORK without penalty to the CITY. In that event, notice of termination of this Agreement shall be in writing to the CONSULTANT who shall be paid for all WORK performed prior to the date of his receipt of the notice of termination. Basis for payment shall be as AS set out. In no case, however, will the CITY pay the CONSULTANT an amount in excess of the total sum provided by this Agreement. " It is hereby understood by and between the CITY and the CONSULTANT that any payment made in accordance with this g Section to the CONSULTANT shall be made only if said CONSULTANT is in default under the terms of this Agreement, then the CITY shall x, I in no way be obligated and shall not pay to the CONSULTANT any sum whatsoever._ 5. OWNERSHIP OF DOCUMENTS All writings, diagrams, tracing, charts, and schedules developed by CONSULTANT under this Agreement, shall be delivered to the CITY by said CONSULTANT upon completion of the 11ORK and shall become the property of the CITY, without restriction or limitation on their use. CONSULTANT agrees that all documents, records and reports maintained and generated pursuant to this contractual relationship between the CITY and CONSULTANT shall be subject to all provisions of the Public Records Law, Chapter 119, Florida Statutes. It is further understood by and between the parties that any information, writings, maps, contract documents, reports or any other matter whatsoever which is given by the CITY to the CONSULTANT pursuant to this Agreement shall at all time remain the property - of the CITY and shall not be used by the CONSULTANT for any other - purposes whatsoever without the written consent of the CITY. 6. AWARD OF AGREEMENT The CONSULTANTS warrant that they have not employed or retained any company or persons to solicit or secure this Agreement and that they have not offered to pay, paid, or agreed to pay any person or company any fee, commission, percentage, brokerage fee, or gifts of any kind contingent upon or resulting from the award of making this Agreement. The CONSULTANTS are aware of the conflict of interest laws of the City of Miami (Miami City Code Chapter 2, Article V), - Dade County, Florida (Dade County Code, Section 2-11.1) and the Florida Statutes and agree that they will fully comply in all respects with the terms of said laws. 7. NON-DELEGABILITY It is understood and agreed that the obligations under- 4 9 taken by the CONSULTANT pursuant to this Agreement shall not be delegated to any other person or firm unless the CITY shall first 82 4 *' 0 consent in writing to the performance of such services or any part thereof by another person or firm. 8. C014STRUC T ION OF AGREEMENT The parties hereto agree that this Agreement shall be construed and enforced according to the laws, statutes and case laws of the State of Florida. 9. SUCCESSORS AND ASSIGNS This Agreement shall be binding upon the parties hereon, their heirs, executors, legal representatives, successors, and assigns. 10. AUDIT RIGHTS The CITY reserves the right to audit the records of the CONSULTANT at any time during the performance of this Agree- ment and for a period of one year after final payment is made under this Agreement. 11. INDEMNIFICATION CONSULTANT shall indemnify and save the CITY harmless from and against any and all claims, liabilities, losses, and causes of action which may arise out of CONSULTANT'S activities under this Contract, including all other acts of omissions to act on the part of the CONSULTANTS, or any of them, including any person acting for or on his or their behalf. 12. CONFLICT OF INTEREST The CONSULTANT covenants that no person under its employ who presently exercise any functions or responsibilites in connection with this Agreement has any personal financial interests, direct or indirect, in this Agreement. The CONSULTANT further covenants that, in the performance of this Agreement, no person having such conflicting interest shall be employed. Any such interests on the part of the CONSULTANT or its employees, must be disclosed in writing to the CITY. The CONSULTANT, in the performance of this Agreement, shall be subject to the more restrictive law and/or guidelines regarding conflict of interest promulgated by Federal, State or Local government. k, 82-112:3 13. INDEPENDENT CONTRACTOR That the CONSULTANTS and its employees and agents shall be deemed to be an independent contractor, and not an agent or employee of the CITY, and shall not attain any rights or benefits under the Civil Service or Pension Ordinance of the CITY, or any rights generally afforded classified or unclassified employees; Further he/she shall not be deemed entitled to Florida Worker's Compensation benefits as an employee of the CITY. 1 1,11T ;ESS 1,",1HHEREOF, the parties hereto have cuased these presents to be executecF. by the respective officials there - unto du'-y authorized, this the day and year first above written. Attest: r -1 Clem. AS TO FC1!:'1 AND COW[ ECTNESS . 1,1 `'l, A"707z"'Ey CONSULTANT 1:DS;AP3 H. FRIEND & CO. By Edward H. Friend, President (SEAL) CITY OF MIAMI, a municipal corporation of the State of Florida 5y City Manager 82--1123